SNG & Partners advised Axis Bank Limited in relation to construction finance amounting to INR 700 crores sanctioned to Prestige Falcon Business Parks in relation to the commercial real estate development of “Prestige Tech Forest” at Bengaluru. SNG also advised on the partial sell down of the facilities to RBL Bank Limited. SNG advised both lenders in the transaction and provided legal advisory and documentation support; negotiating and finalizing the facility and security documents and the inter-creditor documentation.
Since the intention to sell down was made known prior to the drafting of the facility and security documents, SNG carefully structured and drafted the documents so as to ensure that the sell down leg of the transaction was effected very efficiently and effectively. The ease of closing the second leg was appreciated by the lenders.
The transaction was advised by Mr. Ashok Satyanathan (Partner), Ms. Sweta Mehta (Associate Partner), Ms. Avni Gupta (Associate) and Mr. Manan Pant (Associate).
Picture Source :
